Learn how the flow of costs impacts manufacturing firms, covering raw materials, work-in-process, finished goods, and cost of ...

With 2021 just ended, many dealers are rubbing their hands in delight over their supersized operating profits while scratching their heads over what to do about last in, first out (LIFO) recapture as ...

Discover how the FIFO method simplifies COGS calculations, using examples and comparisons to enhance your financial ...

The impact of reduced new-vehicle inventories and the resulting LIFO recapture continues to be a major concern for dealers. The National Automobile Dealers Association has been very active for more ...

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...

The Tax Court held that a business taxpayer’s automatic consent request to change from the last-in, first-out (LIFO) inventory method failed due to defects in its Form 3115, Application for Change in ...

In the glittering world of gold, some jewellers have reportedly been playing a clever game, not with the jewellery, but with the accounting books. ET had earlier reported that the Income Tax (I-T) ...